Buying a new home while selling an old one is a HUGE undertaking, but—it is quite common. Seventy-one percent of buyers typically own their previous place of residence indicating many overlapped as buyer and seller.
The key to success on BOTH ends is having a realtor to guide you through; Home prepping & pricing, Strategic offers, Contingencies clauses, Financing options, Time-sensitive logistics, just to name a few!
Paint. Paint is one of the cheapest, easiest ways to update your home and get it ready to list. Plus, you don’t need to be a pro.
Exterior. Help buyers locate your home by refreshing house numbers and boost curb appeal with fresh mulch and planters filled with annuals.
Kitchen. Give cabinets, appliances, and backsplashes a serious scrubbing. Install new hardware and light fixtures and replace countertops if needed. Don’t do a full reno without speaking to an agent!
Bathrooms. Cleanliness is king but so is functionality. Repair running toilets and leaky faucets, and consider replacing dingy toilet seats.
Lighting. The brighter the better. Ditch heavy drapes for breezy curtains (or no curtains at all) to let in as much natural light as you can.
Floors. There's nothing like walking into a home with freshly refinished hardwood floors. If you can, consider refinishing your wood floors — don't worry, the return on investment is very high.
*Pro Tip: A pre-listing inspection is never a bad idea!
• Concessions (1-2%): Although less frequent recently, sometimes sellers agree to pay a portion of the closing costs in order to seal a sweet deal. It's a good idea to set aside 1-2% of your home’s sale price just in case this comes up.
• Commissions (5-6%): On average, sellers pay 5–6% of the sale price as commission fees. For a $200,000 home, you’d pay $10,000-12,000, divided between your listing and buyer’s agent.
• Capital gains (varies): If you’ve lived in your home for less than a year, The capital gains tax is a tax on the profit you make from selling an asset, including real estate. Make less than $250,000 profit? You're in the clear.
The BEST thing for you is to find a Realtor that you can trust to guide you with the education, tools and professionals needed to make the best decision for you, now or in the future!
Not in Massachusetts? Reach out and let me help you find a trusted agent in your area!